http://www.elixirpetroleum.com/



Elixir Petroleum Limited is an Australian company with a focused strategy of North Sea Exploration. The company is listed on the Australian Stock Exchange (ASX) and on the Alternative Investment Market (AIM) in London.

The company listed in Australia in July 2004 with interests in one UK Licence covering Block 21/6b. Interests in five further UK licences were added in September 2004 as a result of the 22nd UK Licensing Round. One further licence was acquired in December 2004. Elixir currently has interests in 7 UK exploration licences covering 11 North Sea blocks.

Elixir has entered into an agreement with DNO ASA, a Norwegian exploration and production company, for the DNO Group to farmin to Elixir's 100% owned Northern North Sea block 211/22b. The well is expecte to be drilled during 2006.

Elixir's first exploration well spudded on 18th June 2005 on the Marquis prospect in UK Block 21/6b.

RNS's from ELP can be viewed at:

http://www.uk-wire.com/cgi-bin/index?search_type=3&words=elp&go.x=19&go.y=11

North Sea to become hot spot again PDF document.

http://www.elixirpetroleum.com/news.php?action=view&aid=230

wilbs

08.11.2004
Elixir Petroleum Hunts Down A Possible Company Maker In The Northern North Sea
Elixir Petroleum, which is listed on the Australian Stock Exchange, has bought 100 per cent of Block 211/22b in the Northern North Sea, which could hold a company-making prospect. The company acquired the acreage from privately-owned UK player Hunter Petroleum through a cash and paper deal. The new acreage offers high risk high, reward potential in a move thats a departure from Elixirs existing lower-risk portfolio that it has built up through a relationship with Granby Enterprises.

We wanted to broaden the portfolio from moderate and low risk assets to include some high risk, high reward stuff, explained managing director Russell Langusch. Provided its well-balanced and the high risk assets arent overplayed its a good mix to have in your portfolio.

The new acreage lies in an oil prone area of the North Sea, in the Viking Graben area in the East Shetlands Basin. The block is surrounded by oil producing fields, many of which are giant fields, and lies immediately to the east of Shells North Cormorant field. The most interesting prospect on the acreage is Swaledale, an Upper Jurassic prospect which, Langusch said, is almost drillable, requiring just a little more technical work. The hope is this Upper Jurassic prospect will be a look-alike of EnCanas giant Buzzard oilfield. Swaledale will require a fairly deep well, around 13,000 ft, so Elixir plans to plans to farm-out the acreage with the aim of retaining a 5-10 per cent slice of the action.

Its a 200-400 million barrel prospect, so 10 per cent of that is a company-maker for a company like us, Langusch told oilbarrel.com. We hope to have it on the farm-out market by early in the new year.

The company also holds a cluster of assets that were awarded in the 21st Offshore Licensing Round that include commitments to seismic re-processing and possible seismic acquisition. Five blocks, 9/22 & 9/23c and 16/1b, 16/2b & 9/26 are on the west flank of the prolific Viking Graben of the Northern North Sea. These highly prospective blocks contain a number of tertiary and Mesozoic prospects and leads. Significant discoveries adjacent to the blocks include the Gryphon (183 million barrels of oil), Harding (221 million barrels of oil) and West Brae.

Blocks 9/22 & 9/23c are located immediately updip and west/southwest of the Tertiary Gryphon oilfield (5 km northeast in Block 9/18b), and Harding (2 km east in Block 9/23b). A number of prospects and leads have been identified with Tertiary and Mesozoic objectives and significant oil shows. The principal prospects that have been identified could contain recoverable volumes of between 60 and 80 million barrels of oil each, if hydrocarbons are present.

Blocks 16/1b, 16/2b & 9/26 contain shared Tertiary prospectivity where a significant channel fairway has been identified and mapped across the acreage. The channel system fairway is part of the system that fed the West Brae channelised reservoir.

Blocks 15/13b, 14/14b and 13/19 & 13/24c are in the Outer Moray Firth area, home to the likes of the Piper, Claymore and Buzzard discoveries.

wilbs

DNO Re-enters the UK Continental Shelf
Monday, May 23, 2005

DNO Re-enters the UK Continental Shelf

DNO has entered into a binding letter of intent (LOI) with Elixir Petroleum Ltd. (Elixir) to take a 60% working interest and operatorship in Block 211/22B located in the northern North Sea of the UK continental shelf (UKCS).

DNO will secure a 60% working interest and operatorship in Block 211/22B by funding 92,5% of the costs of drilling the exploration well on the Jaguar Prospect during 2006. Elixir will retain a final 40% working interest in the block.

Block 211/22B hosts a large upper Jurassic prospect named Jaguar, which if hydrocarbon bearing, has the potential to contain oil reserves of several hundred million barrels. "We are pleased with this new transaction, which is in line with DNO's strategy of adding new reserves at low costs through smart exploration", says managing director of DNO, Helge Eide.

Through this transaction DNO will be re-entering the UKCS. A formal farm in agreement is expected to be signed by late June 2005. The transaction is subject to all necessary approvals by UK authorities.

wilbs

Elixir Petroleum Ltd
23 May 2005


23 May, 2005


FARMOUT OF JAGUAR PROSPECT TO DNO


Elixir Petroleum Ltd (AIM: ELP and ASX: EXR) is delighted to announce that it
has reached agreement with DNO ASA (DNO), for the DNO group to farmin to the
Company's 100%-owned UK Northern North Sea Block 211/22b.

Block 211/22b hosts a large Upper and Middle Jurassic prospect named Jaguar,
which if hydrocarbon-bearing, has the potential to contain reserves of several
hundred millions barrels of oil. Although this Upper Jurassic play has not been
actively pursued in the UK Northern North Sea, an analagous play is proven on
the Norwegian side of the median line.

The DNO group will secure a 60% interest in Block 211/22b by funding 92.5% of
the costs of drilling an exploration well on Jaguar. Elixir will retain a final
40% interest in the block.

The well is expected to be drilled during 2006.

A binding letter of intent has been executed leading to a formal farmin
agreement to be signed by late June.

Elixir is very pleased with the opportunity to partner a company of the calibre
of DNO in such an exciting prospect as Jaguar.

DNO is an independent international oil and gas company with its head office
located in Oslo. The group's three geographic focus areas are Northern Europe,
the Middle East and Africa. Current net production of around 14,000 boe/d and a
reserves base of 75 million barrels is sourced from producing fields in Norway
and Yemen.

DNO is also the majority shareholder and operator of the recent Nabrajah oil
discovery in eastern Yemen where Australia's Oil Search holds a 28.3% working
interest in onshore Block 43.


Russell Langusch
Managing Director
Elixir Petroleum Ltd

+44 207 484 5623 (UK office)
+44 7840 523 771 (UK cell)
+61 411 725 858 (Aust cell)

rlangusch@elixirpetroleum.com

EXR has completed a farmout proposal about a year's ahead of drilling.

It now holds 40% of the Jaguar project while the new partner DNO pays 92.5% of the drilling cost for their 60%.

I think ELP is planning well ahead for the 5-8 wells to be drilled in the North Sea in the next 2 years.
There are a number of positives:
Management is shrewd, plans well ahead, particularly with Farmouts.
Its first well could be in June/July.
They are selecting reputable partners.
Total shares -including those listed at AIM is 63.7 mill and it has an array of some 24.1 mill unlisted options.
The AIM listing raised about 16.5 mill cash before costs and ELP had 1.3 mill cash at end of March.

wilbs

Elixir Petroleum Ltd
27 May 2005



Shareholder Newsletter

May 2005



Dear Shareholder



Welcome to our second regular Shareholder Newsletter. Although its publication
is slightly later than our quarterly target, we believe that the good news that
it details justifies the wait.

Since the beginning of the year we have made significant progress on many fronts
as we grow into a larger, focused and vibrant North Sea oil and gas exploration
and production company.

Most importantly following the recent AIM placing and listing we are now
well-funded to pursue our active exploration program across the Company's
highly-prospective UK North Sea portfolio.

While much of management's time since our July 2004 ASX float has been spent
assembling the exploration asset base and establishing a company structure to
assess it, the ultimate test of any exploration prospect comes down to drilling.

Within the next 6-8 weeks Elixir's first North Sea well on the Marquis prospect
should be drilled. This well is the start of a planned multi-well program over
the next two years. We are targeting attractive prospects where success in any
one case will be very material to the value of your Company.

The following achievements since our last communication trace out the major
events:

A semi-submersible drilling rig, the Bredford Dolphin, has been
contracted by our farminee partner, Century Exploration, to drill the Marquis
prospect on Block 21/6b (EXR 15% interest). The planned spud date is around
July 1 and the well should take about 18 days to reach its geological objective.

Terms have been agreed with DNO, a Norwegian independent oil and gas
company, to farmin into Elixir's 100%-owned Northern North Sea Block 211/22b.
The block hosts the high risk but high reward Jaguar prospect which should be
drilled during 2006.

On May 16, the Company was admitted to the London AIM market. The
Company's shares are now traded on both AIM and the ASX.

A share placing of 27.1 million new shares to raise 6.5 million
(A$16.3 million) was completed with European and Australian investors as part of
the AIM admission process, and

Dr John Robertson was appointed as Non-Executive Chairman upon the AIM
admission. Don Maloney, our foundation Chairman, has now become Deputy
Chairman.



We are continuing to seek opportunities to expand the scope of our North Sea
operations. The 23rd Offshore Licensing Round is currently underway and Elixir
shall be participating along with our alliance partner, Granby. Awards are
expected around September.

The Board looks forward to your continuing support.



Yours sincerely,



Russell Langusch
Managing Director





Marquis Drilling

The good news is that the long-awaited Marquis exploration well in Block 21/6b
(Elixir 15% interest) should spud around July 1. Our operator, Century
Exploration, has taken a rig on contract and preparations are well in hand for
the 18 day well. If successful, Marquis has the potential to be a company-maker
for Elixir. We are well aware that oil exploration is a risky business so we
are planning a follow-up program to ensure that we are not dependent on Marquis
success.



Jaguar Farmout

Farmin terms have been agreed with Norway's DNO to earn an interest in Elixir's
Northern North Sea Block 211/22b. DNO will secure a 60% interest in the block
by meeting 92.5% of the costs of drilling a well on the Jaguar prospect. Jaguar
has reserves potential of several hundred million barrels if hydrocarbons are
present. It represents a relatively new exploration play in UK waters although
a similar play is proven and produces oil on the Norwegian side of the border.
State-of-the-art work undertaken by our technical team in association with
leading consultants has helped de-risk Jaguar and assist in the farmout process.
Although exact timing will depend on rig availability, DNO is planning to drill
Jaguar during 2006.



AIM Listing and Share Placing

On May 16 2005, your Company was admitted to trade on the London AIM market.
Coincident with this listing approximately 6.5 million (A$16.3 million) was
raised in new equity through a placing of 27.1 million shares to European and
Australian investors. The Company is now well-funded to pursue its planned
multi-well exploration program consisting of a minimum of five potentially
high-impact wells over the next two years. Elixir is now dual listed and trades
on both AIM (Ticker code: ELP) and the ASX (Code: EXR).

New Chairman Appointed

We are delighted to welcome Dr John Robertson as our new Non-Executive Chairman.
John brings a wealth of experience from the City of London and the oil and gas
industry to your Company. Most recently John has been working with Nabarro
Wells & Co, an independent corporate finance advisory firm, that acts as the AIM
nominated adviser (Nomad) to a number of oil and gas companies including Hardman
Resources Limited. Don Maloney, our foundation Chairman, has assumed the role
of Deputy Chairman. We are indebted to Don for his guidance and wise counsel
since Elixir floated last July.



Australian Shareholder Briefings

We are scheduling a series of shareholder briefings in Sydney, Melbourne and
Perth in mid-June 2005. Exact dates are yet to be finalised, however we plan to
give an update lasting around 45 minutes in the ASX theaterette in each city.

All shareholders are very welcome to attend and further details will be advised
shortly.



Figure here

Three-Dimensional View of Jaguar Structure





Contact Us

We welcome any feedback or queries from our shareholders.

Please feel free to contact us at:


Elixir Petroleum Ltd
Golden Cross House
London WC2N 4JF
Tel +44 (0) 207 484 5019
Fax +44 (0) 207 484 4992


Russell Langusch:
Mob 07840 523 771 (UK)
0411 725 858 (Aust)

rlangusch@elixirpetroleum.com


Angus MacAskill:
Mob: 07941 085 604

amacaskill@elixirpetroleum.com


Iain Knott:
Mob: 07771 906 232


wilbs

Buy Elixir Petroleum at 25.5p
Argues Stewart Dalby of www.oilbarrel.com
Perth-based Elixir Petroleum (ELP), which is listed on London's Alternative Investment Market and the Australian Stock Exchange, focuses on exploration opportunities in the UK North Sea. The company perhaps did not chose the right moment to join AIM as it became caught up in the shakeout caused by the Regal Petroleum farce which saw the small cap oil and gas sector tumble. Elixir's shares have not done too much in the UK so far. But did the company did successfully raise 6.5 million pounds on its admission to AIM. Put together with the 1 million pounds the company had in the bank this mans the company is cashed up to get through a number of drilling prospect over the next 18 months.

The company will spud its first well in the North Sea in July 2005, targeting the medium to low risk Marquis prospect in block 21/6b. Elixir has a 15% stake in the block, which is operated by Century Exploration. The Marquis prospect, one of the last undrilled Palaeocene channel plays in the central North Sea, lies on trend with and updip of the giant Forties field. In May 2005, Elixir farmed out 60% of the equity in block 211/22b in the Northern North Sea to Oslo-headquartered DNO. The Norwegian firm will earn its equity by funding 92.5% of the costs of drilling an exploration well on the Jaguar prospect in 2006. This prospect is an Upper Jurassic stratigraphic trap play, which has not been chased on the UK side of the border but has been drilled successfully in Norwegian waters. Jaguar is an analogue to the producing Borg field in the Snorre area of the Norwegian North Sea and could hold several hundred million barrels of reserves.

Elixir also holds a raft of exploration acreage picked up in the UK's recent bid rounds. Elixir bid for the acreage in partnership with private oil and gas concern Granby Enterprises. In the 22nd Offshore Licensing Round, the results of which were announced in September 2004, the alliance was awarded nine blocks and part blocks on a Promote Licence basis. These blocks include 13/19 &13/24c (Elixir's assigned interest 50%); 14/14b (Elixir 50%); 15/13b (Elixir 35%); 9/22 & 9/23c (Elixir 33.3%); and 16/1b (Part), 16/2b (Part) & 9/26 (Part) (Elixir 33.3%). Under the terms of the Promote terms, the block participants have two years to mature a number of prospects to drill-ready status and must then commit to drill in the next two years or drop the licence. Technical work is now underway on this acreage, which the partners plan to market for farm-outs in the September 2005 quarter.

Elixir also plans to take part in the UK's 23rd licensing round, which has opened up a record 1,329 blocks in the North Sea, many of which had previously been off-limits. Elixir plans to be bid in partnership with Granby Enterprises and on its own account. But the company is also hunting for additional farm-in opportunities in the North Sea to ensure it has an inventory of drillable prospects to keep the news flow coming for its UK and Australian investor base. Specifically it is looking for something in the second half of 2005. CEO Russell Langusch says: " There is too big a gap between Marquis and the next planned well (Jaguar in 2006) and interest tends to wane in those periods." The British Government is very keen to get companies to re-enter the North Sea, as the 23rd Licensing Round demonstrates. It has said it thinks that there could be 14 billion barrels of unexploited oil in the North some of it in "pools" too small for the majors to bother with. Elixir has been careful top assemble its acreage on the flanks of existing fields. It clearly to keep up a constant news flow. Given the sophisticated infrastructure in the North Sea, any success with the drill bit should quickly translate in cash flow. The shares have plenty of upside. Buy.

Key Data

EPIC: ELP
Price: 24-27p
Market : AIM and ASX

Stewart Dalby edits the free and definitive resource for those interested in oil exploration stocks - oilbarrel.com. For more details click here

wilbs

Elixir Petroleum Ltd
06 June 2005


6 June, 2005


ISSUE OF OPTIONS

Elixir Petroleum Limited announces the issue and allotment of the following
securities pursuant to its mandate agreements with two entities which
participated in the Company's recent AIM admission:

500,000 A$0.90 options expiring 16 May 2008 issued to RFC Corporate
Finance Limited, pursuant to the Nomad Service Agreement dated 10 November
2004, for services provided as Elixir's AIM Nominated Advisor; and

637,148 24p (A$0.59) options expiring 16 May 2010 issued to Ambrian
Partners Limited ('Ambrian'), pursuant to the AIM Admission Service
Agreement dated 10 November 2004, for financial advisory and broking
services provided by Ambrian.



Russell Langusch
Managing Director
Elixir Petroleum Ltd



+44 207 484 5623 (UK office)
+44 7840 523 771 (UK cell)
+61 411 725 858 (Aust cell)

rlangusch@elixirpetroleum.com


wilbs

Elixir Petroleum Ltd
10 June 2005







9 June, 2005



MARQUIS SPUD DATE IMMINENT



Elixir Petroleum Limited (ASX code: EXR, AIM code: ELP) is pleased to provide an
update on the imminent spudding of its first exploration well in the UK North
Sea.


Century Exploration, the well operator and farminee, has advised that the
Marquis well in Block 21/6b could spud as early as 16th or 17th June or about
two weeks earlier than previous estimates.


The exact timing is dependent on the release of the Bredford Dolphin
semi-submersible drilling rig from its current activities with another operator.
However on present indications this could be as early as late next week.


Elixir has a 15% interest in Block 21/6b and will contribute 10% of the Marquis
well costs. Marquis has the potential to host mid-case reserves of around 144
million barrels of oil, if hydrocarbons are present. It is a Tertiary channel
sand prospect on-trend with and updip from the 2.7 billion barrel Forties oil
field.


The well's planned total depth is 2,000m and it is expected to take about 17-18
days to drill on a troublefree basis. The primary reservoir objective should be
reached around Day 12.



Russell Langusch
Managing Director
Elixir Petroleum Ltd

wilbs

Friday June 10, 3:01 PM
Elixir Petroleum: Marquis Spud Date Imminent
Edited Press Release

LONDON (Dow Jones)--Elixir Petroleum Ltd. said Friday that it will shortly spud its first exploration well in the U.K. North Sea.

ADVERTISEMENT


Century Exploration, the well operator and farminee, has advised that the Marquis well in Block 21/6 billion could spud as early as Jun. 16 or 17, some two weeks earlier than previous estimates.

The exact timing is dependent on the release of the Bredford Dolphin semi-submersible drilling rig from its current activities with another operator. However on present indications this could be as early as late next week, Elixir said.

Elixir has a 15% interest in Block 21/6 billion and will contribute 10% of the Marquis well costs.

Marquis has the potential to host mid-case reserves of around 144 million barrels of oil, if hydrocarbons are present. It is a Tertiary channel sand prospect on-trend with and updip from the 2.7bn barrel Forties oil field.

The well's planned total depth is 2,000 million and it is expected to take about 17-18 days to drill on a troublefree basis. The primary reservoir objective should be reached around Day 12.


Up 7.27% today on very low volume.

wilbs

Elixir Petroleum Ltd
17 June 2005


17 June, 2005

ELIXIR'S UK PARTNER LISTS ON AIM

Elixir Petroleum Ltd (AIM Code: ELP, ASX: EXR) is pleased to advise that its UK
North Sea alliance partner, Granby Oil & Gas plc, recently listed on the London
AIM market.

Granby (AIM Code: GOIL) successfully raised 10 million and was admitted to AIM
on Wednesday, 15 June. At the issue price of 0.84 Granby is capitalised at
around 21.6 million (A$51.8 million).

Given the difficult market conditions experienced over recent weeks and the
adverse publicity surrounding a number of AIM stocks, Granby's capital raising
is a strong endorsement of the Granby-Elixir North Sea exploration portfolio.

With both Elixir and Granby adequately funded following their respective AIM
listings, Elixir looks forward to pursuing joint exploration activity across the
existing 22nd Round blocks and hopefully within successful applications from the
current 23rd Round.

wilbs

Elixir Petroleum Ltd
17 June 2005


16 June, 2005

COMPANY PRESENTATION


Elixir Petroleum Ltd's (AIM Code: ELP, ASX: EXR) Managing Director Russell
Langusch is making a presentation to Australian Investors during briefings over
the next two weeks. The Company presentation can be accessed via the Company's
website
www.elixirpetroleum.com
wilbs

Up 6.78%.

Up 10.17%.

13.56%

Shares in Elixir Petroleum added 4p at 33p after the firm revealed its managing director Russell Langusch is making a presentation to Australian Investors during briefings over the next two weeks.

The firm was also supported by news that its UK North Sea alliance partner, Granby Oil & Gas, recently listed on the Aim market.


http://www.thisismoney.co.uk/investing-and-markets/article.html?in_article_id=401469&in_page_id=3
wilbs

Doh!!!! Wrong thread!!!!

verbal diarrhea or what, and about as nuch talent as a bowlful- dozens of posts to himself and no replies, well bar this , what do they do with their lives?

Hows the short going?

seaquestor, you watch ELP & BOR in the next few months... Theres only one way they are going... Do your own research.......

edit... and the FTSE. Do some research, you will see!!!!!!!!!!!!!!!!!!!!

stick to your fishing, I bet your no good at that either!!!!!

Elixir Petroleum Ltd
20 June 2005




MARQUIS EXPLORATION WELL SPUDS



Elixir Petroleum Ltd (AIM Code: ELP, ASX: EXR) is pleased to advise that its
first North Sea exploration well on the Marquis prospect located in UKCS Block
21/6b has commenced drilling.


Well 21/6b-6 was spudded on 18 June 2005 by the Bredford Dolphin
semi-submersible drilling rig and is operated by Century Exploration (UK)
Limited. As at 6am on 19 June, the well had been drilled to a depth of 198m BRT
(below the rig rotary table).


The well has a planned total depth of 2,000m and is prognosed to take around 18
days to drill. The primary objective, the Palaeocene Forties-Balmoral sands, is
interpreted to be reached at a depth of approximately 1,600m or around Day 12 in
the drilling program.


The well is being drilled as a low cost finder well and will not be flow tested.


Elixir does not intend to make further announcements until the target zone is
intersected, unless significant hydrocarbons are encountered in the interim.


The Company has a 15% interest in Block 21/6b and is contributing 10% of the
Marquis well's estimated total cost of about 3.7 million (A$8.9 million).

Up 2.99% and further to go today.
wilbs

spread 8+%, further to go today?-geddoutahere you fool.

PCF Last week issues an RNS stating that they had been approached in the early stages of a bid. The current valuation is way to low and is about to rocket with the full bid any day. The company is moving back into profit and several broker/tipster recommended it as a buy prior to the bid news

On top of this there is a rumour of a second bidder in the wings going about

This will reach new highs this week, now is the time to get in before it heads toward 100p, current sp is 32p

IMHO

I got in last week at 30.25p.

ROFLMFAO!!!!!!!!!

Elixir confident of North Sea oil
June 20, 2005 - 6:29PM

Page Tools
Email to a friend Printer format
North Sea oil and gas explorer Elixir Petroleum Ltd is confident one of the five projects it plans to drill over the next two years could be a company maker.

Elixir will spend five to nine million pounds sterling drilling these wells, including the Marquis prospect which was spudded on Saturday.

Managing director Russell Langusch said there had been a discovery drought for Australian explorers and was hoping the next discovery would be Elixir's.

"We are drilling prospects that have a got a chance of success of about one in five on average. If we drill five wells, one of them will hopefully work," Mr Langusch said at an investor briefing.

The Marquis prospect was the sole asset of the company when it listed on the Australian Stock Exchange last July, raising $3.3 million.

Mr Langusch said there could be 100-150 million barrels of oil at Marquis.

"There is very little risk that it is not there," he said.

If the current testing renders positive results, Elixir could be a producer within six to 12 months.

Advertisement
AdvertisementIf the project proved to be bigger than originally thought and warranted the construction of a platform, the lead time to production would be extended to two to three years.

Marquis is located close to the Forties pipeline, controlled by BHP Billiton and currently running at about one third capacity.

Elixir had already been approached by BHP to consider using the pipeline but Mr Langusch said he hadn't ruled on any transportation methods, including the possibility of a floating processing plant.

He also said Elixir was not wedded to the idea of becoming a producer and would consider selling any project.

Since its ASX listing, Elixir has reduced its exploration risk by acquiring more prospects in the North Sea region.

It hoped to increase its holding again when the next round of licences were awarded by the British government, expected within the next few months.

It has applied for licences both on its own, and in conjunction with UK-based Granby Enterprises.

In line with its business model, Elixir will conduct early work on any licences it is awarded and farm them out.

Mr Langusch said Elixir would ideally hold between 15 and 30 per cent of any prospective project.

It has already farmed out its wholly owned Jaguar prospect with Norwegian company DNO.

The Jaguar prospect will be drilled next year as part of a bigger program by DNO.

http://www.smh.com.au/news/Business/Elixir-confident-of-North-Sea-oil/2005/06/20/1119250923995.html?oneclick=true

wilbs

Projects:

Elixir's exploration portfolio comprises of interests in 11 UK North Sea exploration blocks covering 7 licence areas. Six of the seven licence areas are in the Central North Sea and the remaining licence is in the Northern North Sea.

Two of the licences, covering blocks 21/6b and 211/22b, are 21st Round licences and the remaining five are 22nd Round licences.

Elixir's interest ranges from 15% in Block 21/6b to 100% in Block 211/22b.

The Marquis prospect in Block 21/6b is scheduled to be drilled in the middle of 2005. The well is fully funded, with Elixir paying 10% of the well cost. A rig has been contracted for the drilling operation.

Elixir has fully matured the Jaguar prospect in Block 211/22b using advanced seismic techniques, and has recently been marketing the prospect with the objective of introducing additional partner(s) to fully fund an exploration well.

Prospects identified on the 22nd Round licences are being matured to a drill-ready status in preparation for marketing to form partnerships for the drilling of exploration wells to test these prospects.




wilbs

Nice mark up before open. Goil not budged. An interesting day ahead.
The spread still killing it though.

wilbs

At sp of 19/22 now ,a buying opportunity if sp settles.

tOP UP DAY.

Got in yesterday. Good for a punt

sambal, whats the latest on ELP and its exploration in North Sea

has anyone got any news on ELP!!!! Something seems afloat especially with the performance of DNO 2day (volume traded) on the Norwegian stock exchange

Look back at SEY and my comments............

Hendrix Comes In Dry For Granby As Elixir Prepares To Spud Jaguar Wildcat
Drilling in the North Sea during the winter months is never much fun. Particularly when the well concerned comes in dry. This was the experience for Granby Oil & Gas, which last week announced its second North Sea well since its June 2005 flotation on AIM had failed to find commercial quantities of oil and gas.

The company will be hoping its planned multi-well drilling programme for North Sea over 2006 and 2007 will meet with better success. Granby can boast a management team that includes six former executives of one of the UKs most successful independent oil companies during the 1980s and 1990s, Enterprise Oil, and currently holds interests in 13 UK offshore licences in the Central North Sea. As work begins to understand and exploit this pipeline of future prospects, the disappointments of 2005 should recede from investor memory.

Exploration well 9/27a-4 was designed to probe the Hendrix prospect in the west of the North Seas Viking Graben. The well encountered sub-commercial oil shows, having been drilled by the Bredford Dolphin to a depth of 1,850 metres. It has, however, earned the AIM oil junior a 12.5 per cent stake in the block, which was awarded to operator Century Exploration in the 23rd licensing round. Granby agreed to pay 25 per cent of the well costs (reckoned to be around 1.26 million) in return for its equity stake.

The disappointment at Hendrix follows the duster drilled on the Marquis prospect in June, when the 21/6b-6 exploration well, again operated by Century Exploration, found only water-bearing sandstones. This well didnt cost Granby anything as its 15 per cent stake was carried by farm-in partners Century and Elixir Petroleum.

The latter company, which is listed on AIM and the Australian Stock Exchange, is now gearing up to drill its third hole in the North Sea. It will use the Bredford Dolphin rig once it completes plugging and abandonment operations on the Hendrix prospect. The rig will then pull anchors and, weather permitting, be towed north to Block 211/22b, where the Jaguar wildcat is expected to spud this week.

Elixir suffered two dry holes in 2005 - Marquis and Muness - but has high hopes for the Jaguar well. And, as managing director Russell Langusch points out, with Marquis and Muness coming in under budget the company has saved cash funds for later activity.
The Northern North Sea well is expected to take 45 days to reach its target depth of 3,950 metres. Its progress with be closely monitored by both Elixir followers and North Sea watchers: this is a well that could unlock the geology in this part of the aging oil province. Jaguar is an Upper Jurassic stratigraphic trap, a play which has received little attention on the UK side of the border but has been successfully exploited by the Norwegians. The analogous Borg field, for example, is now producing in the Snorre area of the Norwegian North Sea.

It is significant that Elixir's partner in the Jaguar prospect is Oslo-based DNO. DNO has agreed to meet 92.5 per cent of the Jaguar well costs to earn a 60 per cent stake in the prospect.

Jaguar is a possible 450 million barrel prospect and is thought to be analogous to the Buzzard field, which when discovered in 2001 was the largest find to be made in the North Sea for ten years. Elixir believes that very few junior oil and gas explorers, if any, will participate in such a high potential exploration project in the coming months - although this is one for investors with an appetite for higher risk wildcatting.

aldwicck, how can we get info. on the progress of Jaguar..... before information is formally released on the market.. so the question is, wheter its possible to gain closer knowledge of progress on jaguar b4 a rns is released... Surely it must be possible to those that are willing to go the extra mile rather than to sit and wait for news and if it turns sour then lose alot of dollars!.... your views welcomed!

ELP INFO::::::::::::::::::::
Translated excerpts from an article in the Norwegian financial paper Finansavisen 17 Janaury 2006:

.......DNO [www.dno.no] is busy preparing for the drilling the exciting Jaguar project. According to DNO the field could contain between 54 and 280 million barrels of oil with the most probable estimate at 138m barrels. This would mean 83m barrels for DNO, or a reserve increase of 80%.

- Jaguar is our next big project and it starts in the very near future, the CEO of DNO Mr. Helge Eide says to Finansavisen........


Now take a look at this:

If 83 million barrels is an 80% increase in DNO's reserves, their current reserves must be approximately 100m barrels. The market cap. of DNO is today 1billon, or 10 per barrel of oil reserves. However, as well as OWNING reserves DNO is also pumping and selling oil. Therefore lets allow for this and value their oil reserves in isolation to 7 per barrel.

DNO (and Rocksource ASA) own 60% og Jaguar and Eilixir owns 40%. If they find 138m barrels of oil Elixirs 40% will equate to 55m barrels of oil reserves. Multiplied by 7 per barrel this gives a total value of 385m to Elixir. Eilxirs market value today is 26m. Therefore if DNOs likely scenario (if they strike oil) happens Elixirs share can rise to 6.